Skip to main content

Equatorial Guinea in LNG sale talks

Published by
LNG Industry,

According to Reuters, Equatorial Guinea is in talks to sell LNG from, its Punta Europa project, to independent companies and traders from 2020 as its exclusive deal with Royal Dutch Shell winds down.

Gabriel Obiang Lima, Equatorial Guinea’s Minister for Mines and Hydrocarbons, announced his desire to raise royalties received from future LNG deals to 50%. A 12.5% share of profits is the current arrangement with Shell.

Shell’s deal, inherited after it acquired BG Group in 2015, was amended in 2009 under government pressure to include a 12.5% share of profits. While Lima’s announcement may indicate that there is dissatisfaction with this current figure, in reality it is still among the most lucrative contracts for any LNG exporter worldwide.

“We invited possible LNG buyers, so they are aware of the opportunities,” Lima said. He added that talks are progressing with China National Offshore Oil Corporation (CNOOC), Russia’s Lukoil, France’s Total, trader Vitol, Shell, and a joint venture between Lukoil and NewAge.

New supply deals will reportedly be offered for 3 – 5 years in duration from 2020.

Read the article online at:

You might also like


[WEBINAR] Why Risk-Adjusted Project Forecasting Is Becoming the New Norm

This webinar will walk the audience through a methodology for developing risk-adjusted plans, leveraging remote collaboration techniques for disparate and socially distanced teams. This next-generation risk management approach is already proving itself on numerous oil and gas CAPEX projects. Find out why InEight expects the trend of risk-adjusted scheduling adoption to continue. Register for free today »


Embed article link: (copy the HTML code below):


This article has been tagged under the following:

LNG export news


LNG Industry is not responsible for the content of external internet sites.